- Ethereum derivatives hit $107B in volume, outpacing Bitcoin amid ETF inflows and DeFi resurgence.
- Spot ETH ETFs saw 16 straight days of net inflows, signaling growing institutional trust.
- Regulatory support and protocol upgrades add to ETH’s strong long-term bullish case.
Ethereum’s derivatives market surged past Bitcoin’s in the last 24 hours, with a trading volume exceeding $107 billion, according to Coinglass data. This 25% daily increase in activity reflects renewed institutional interest, fueled by spot Ethereum exchange-traded funds (ETFs) and a revival in decentralized finance (DeFi).
In comparison, Bitcoin derivatives saw $78 billion in trading volume during the same period. Ethereum’s price also climbed by over 3.50%, hitting $2,775.
The dramatic rise in Ethereum derivatives trading is attributed to sustained inflows into U.S.-based spot ETH ETFs, which have seen 16 consecutive days of net positive flows. Over $890 million have been collected by these ETFs during this rally, says SoSoValue data.
Rachael Lucas, BTC Markets analyst, said, “Ethereum’s surge in trading volumes is anything but a fluke. It denotes structural growth, institutional validation, and real utility. ETH is no longer just the second-largest crypto by market cap; it is increasingly emerging as the cornerstone of the digital asset economy.”
Lucas stated that staking-enabled ETH ETFs could become a huge growth catalyst this year, if approved.
DeFi and NFT Ecosystem Growth Boosts Sentiment
Ethereum plays the dominant role in DeFi and NFTs, and continues to drive the market activities. DeFi Llama reports that total value locked (TVL) in DeFi protocols is now $118.8 billion, up from $89.97 billion in April, marking a 32% increase.
Meanwhile, NFT platform OpenSea recorded its highest monthly active user count since 2023, thanks to the launch of its new OS2 platform, contributing to Ethereum’s usage and on-chain volume.
Analysts say regulatory sentiment is also supporting ETH’s rise. SEC Chairman Paul Atkins recently stated at a Crypto Task Force roundtable that self-custody rights should be protected in the digital world. The SEC’s official X (formerly Twitter) account amplified the comment, boosting market sentiment.
“Such public support from regulators adds credibility to Ethereum’s use case in DeFi and decentralized applications,” said Paul Howard, Senior Director at Wincent.
Upcoming Protocol Upgrades Add to Bullish Outlook
Ethereum’s recent Pectra upgrade has further bolstered confidence in the network. The upgrade focused on scalability and gas fee reductions, directly addressing long-standing developer and user concerns.
In terms of future price, Lucas sees bullish momentum continuing. She noted resistance near $3,600 and support at $2,800, with a long-term potential range of $5,500 to $6,700 by December, should ETF staking approval go through. Longer-term projections see ETH possibly reaching $10,000–$20,000 by decade’s end, underpinned by deflationary tokenomics, Layer 2 expansion, and institutional adoption.
Still, regulatory delays, especially around staking-related ETF decisions, could introduce volatility, Kronos Research Analyst Dominick John cautioned.
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